Mathematics, 05.05.2020 14:27, shelbycheyzelanko21
Pavel needs $1,600 to repair damage done to his boat by a storm, but he doesn’t have enough in savings to cover the cost right now. He compares the following options for getting a loan:
• a car title loan with a $173 charge that must be paid off in two weeks or he loses ownership of his car
• a personal installment loan from his bank that must be paid off in three equal monthly payments of $600
Finish calculating the installment loan finance charge for three months by calculating the total interest using the appropriate formula.
$800
$200
$400
$280
Answers: 2
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Pavel needs $1,600 to repair damage done to his boat by a storm, but he doesn’t have enough in savin...
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